Magnolia Oil & Gas Corp.
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About
Magnolia Oil & Gas is an independent oil producer with assets located in the Eagle Ford Shale and Austin Chalk formations in South Texas. The company’s objective is to maximize shareholder returns by generating steady production growth, strong pre-tax margins and significant free cash flow. Magnolia was formed in 2018 through the business combination of EnerVest’s South Texas division and TPG Pace Energy, a special-purpose acquisition company (SPAC) formed by Steve Chazen, Magnolia’s chairman and CEO, and TPG Capital. Magnolia is headquartered in Houston.
Transactions
Magnolia Oil & Gas Discloses $71.3 Million Eagle Ford Shale Deal
Magnolia Oil & Gas Discloses $71.3 Million Eagle Ford Shale Deal
Former EnerVest Affiliate Sells Magnolia Oil & Gas Stake, Exits San Juan Basin
Former EnerVest Affiliate Sells Magnolia Oil & Gas Stake, Exits San Juan Basin
TPG Pace Energy, EnerVest Form Eagle Ford Pure-Play In $2.66 Billion Combination
TPG Pace Energy, EnerVest Form Eagle Ford Pure-Play In $2.66 Billion Combination
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New Financings
Announced the proposed underwritten block trade of 7.5 million shares of the company’s Class A common…
Announced the pricing of the previously announced underwritten block trade of 7.5 million shares of the…
Announced that its board of directors raised the company’s share repurchase authorization by an…
Priced an underwritten block trade of 7.5 million shares of Class A common stock by certain affiliates of…
Priced a secondary public offering by certain affiliates of EnerVest Ltd. of 17 million shares of Class A…
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News
CEO: Magnolia Hunting Giddings Bolt-ons that ‘Pack a Punch’ in ‘24
Magnolia Oil & Gas plans to boost production volumes in the single digits this year, with the majority of the growth coming from the Giddings Field.
Magnolia Appoints David Khani to Board
David Khani’s appointment to Magnolia Oil & Gas’ board as an independent director brings the board’s size to eight members.
Magnolia Oil & Gas Hikes Quarterly Cash Dividend by 13%
Magnolia’s dividend will rise 13% to $0.13 per share, the company said.
SEC Targets SPACs with New, Enhanced Disclosure Rules
SPAC IPOs and de-SPAC combinations became a popular means for private companies to access the public markets during the pandemic. Regulators aim to make the SPAC process closer to a traditional IPO.
Magnolia Acquires Bolt-on Asset in Giddings for $300MM
Magnolia Oil & Gas’ new acquisition of oil and gas producing properties brings the company’s position in Giddings, Texas, to over 500,000 net acres.
Private Equity Ownership in E&Ps Slips, Reducing Overhang: Truist
A Truist Securities study finds more diversity in private equity ownership of E&Ps and predicts more of them will keep their ownership for the longer term.
A&D Minute: Big Deals in the Permian and Eagle Ford [WATCH]
In this week's A&D Minute, Kimbell Royalty Partners makes its largest deal in company history, Diamondback Energy sells an ownership interest in Midland Basin crude oil gathering assets for $225 million and Magnolia Oil & Gas bolts on assets in the Giddings field.
The $40MM Pencil Fight: Ringside at Magnolia Oil & Gas’ Earnings Call
Analysts’ questions led Magnolia Oil & Gas’ CEO to describe the exchange as akin to the courtroom scene from a “A Few Good Men.”
Magnolia Oil & Gas Bolts-on Acreage in Giddings Field
Magnolia added acreage in the Giddings Field outside of its core development area with promise for development, the company said.
By Hook, Crook and Bolt-on, E&Ps Scramble to Add Inventory
Operators are adding inventory, largely through M&A, as some E&Ps see well productivity plateauing.
Magnolia Oil and Gas Announces 15% Increase to Quarterly Dividend
Magnolia Oil and Gas Corp.’s shareholder distribution increase reflects the company’s efforts to maximize shareholder returns.
Industry Vet, Long-time Occidental Exec Stephen Chazen Dies at 76
Stephen Chazen previously served as president and CEO of Occidental Petroleum and later founded Magnolia Oil & Gas following his retirement from Occidental.
Magnolia Oil & Gas Appoints New CEO as Stephen Chazen Steps Down for Health Reasons
Effective immediately, Magnolia Oil & Gas on Sept. 21 named Christopher Stavros, the company’s CFO, as president and CEO. The company said Stephen Chazen will no longer be able to serve in his positions due to serious health reasons.
A&D Trends: Indie Oil And Gas Deal-Making
So far in 2019, oil and gas deals have taken an indie turn in the market with mid-sized deals.
Former EnerVest Affiliate Sells Magnolia Oil & Gas Stake, Exits San Juan Basin
Harvest Oil & Gas, a successor company to EnerVest’s former affiliate EV Energy Partners, announced divestitures on Feb. 14 totaling more than $90 million.